I would go with the Ltd co. Have seen the best of friends going into partnership and falling out. With a partnership whatever profits you make is what you are taxed on. Say ye have a profit of €100k ye would be both taxed on your share of this (prob 50% each). You might only take drawing each for the year of say 20k and the other 80k could be left lying in the bank but you are still taxed on the 100k.
You should set up a company and take a salary each based on the time you both put in. The company would pay paye/prsi on this and would then pay corporation tax at 12.5% on whatever profit they have left at the end of the year.
If the company is audit exempt(based on turnover,employees,net assets) accountants fees would be about the same for the year.